Perpetual (ASX:PPT) said that its total assets under management clocked in at AU$226.8 billion for the fiscal fourth quarter, rising 2.5% from AU$221.2 billion it reported in the quarter ended March 31, primarily driven by favorable market movements of AU$14.6 billion, offset by net outflows of AU$3.9 billion, as well as negative currency movements, according to a Tuesday Australian bourse filing.

The firm's total funds under administration from its corporate trust business grew to AU$1.27 trillion as of the quarter ended June 30, up 0.7% on the March quarter.

Its wealth management business total funds under administration were AU$21.5 billion as of June 30, up 2% on the March quarter, while net flows were flat.

It added that it is engaged in discussions with interested parties for the sale of its wealth management business.

Its shares fell almost 1% in early trading on Tuesday.